New Energy Investment S.à.r.l. (NEI) has launched an accelerated bookbuild offering of 7,500,000 of existing shares in DONG Energy to institutional investors, equivalent to 1.78% of the outstanding shares and voting rights in the Danish offshore wind developer.
The shares will be sold at a price of DKK 321 per share. If all the shares are sold, the proceeds of the transaction will amount to DKK 2.4 billion (EUR 324 million).
Assuming all the shares available in the transaction are sold, NEI will, after completion of the transaction, hold 11,435,215 shares in DONG Energy corresponding to 2.7% of the existing shares in the company.
DONG Energy will not receive any proceeds from the transaction.
Following the Danish company’s Initial Public Offering (IPO) in June 2016, NEI controlled a 14.7% stake in DONG Energy.
Back in February 2017, NEI launched an accelerated bookbuild offering of 26,500,000 shares in DONG Energy, equivalent to 6.3% of the share in the company. In May 2017, NEI sold further 10,509,527 shares, corresponding to approximately 2.5% of the share in the Danish energy company.
NEI is a Luxembourg company indirectly owned by entities under the control of the Merchant Banking Division of The Goldman Sachs Group, Inc.